Terms of the lease are undisclosed; however, the listed rental rate for the building is between $22 per sf and $23 per sf. Shelley Harris of Wayne-based GVA Smith Mack represented Ken-Crest. Jake Fruncillo, in-house leasing director, represented the owner, Cranford, NJ-based Mack-Cali Realty Corp.
Ken-Crest is a nonprofit human services agency devoted to providingsupport for people who have, or are at risk of having, mentalretardation or a developmental disability. It serves more than 6,000people ranging in age from infant to senior from its more than 30locations throughout the Delaware Valley.
The Ken-Crest renewal is among four major leasing transactions that took place at Mack-Cali properties in suburban Philadelphia during third quarter. The other three were renewals at properties in Moorestown, NJ which took occupancy in the buildings at 1245 North Church St. in Moorestown West Corporate Center, 224 Strawbridge Dr. in Moorestown Corporate Center and 1256 North Church St. in Moorestown to 100%. The four transactions encompass an aggregate 207,923 sf.
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